UK Newsletter | March 2021

UK Newsletter

NEWSLETTER: A positive outcome of Covid has to be our increased ability to work across borders. Our Asia teams hosted our US colleagues for a webinar last week to talk through how SEC/NFA developments may impact their clients. It served as a reminder of the extra-territorial scope of US regulation, and generated a lot of discussion, so we’re hosting a similar session in the UK on the 22nd April.

We’re seeing an uptick in SEC and NFA examinations outside the States, and we’re helping clients in both Asia and Europe to prepare. And the US AML Act serves as a further example of the distant reach of the US authorities, as we discuss in more detail below.

The FCA has never been shy of pursuing criminal convictions where it makes sense to do so. Its recent success in relation to the 24hr Trading Academy, found by the High Court to have been conducting regulated activities without being authorised, may have increased its appetite as it embarks on its criminal prosecution against NatWest for breaching the money laundering regulations.

As the UK begins its tentative steps out of lockdown and the regulators finalise their policy statement on resilience, we continue to learn the lessons of the pandemic and look to a sunny spring.

Ben Blackett-Ord
Founder & CEO

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